there is an easier way to create ringtones (i may have missed the posting on this)
there is an option on the menu...cycle region the shortcut i believe is 'c'
select that option (or press c) and a little yellow bar will appear underneath the time "ruler"
drag it over the region desired and size it so that it encompasses the desired length of audio (not sure the exact time limit for iphone ringtones)
then you can export it directly to itunes as a ringtone
Garageband is an awesome tool, and outside of making ringtones, i've dabbled in doing some digital recording in it...if you want the PC equivalent i suggest Fruity Loops or ProTools...
while simple to use, it is powerful...here is a peek at my old setup
